Wall Street Zen Downgrades Coca-Cola Consolidated (NASDAQ:COKE) to Hold

Key Points

• Wall Street Zen downgraded Coca-Cola Consolidated from “Buy” to “Hold,” although Weiss Ratings reiterated a “Buy” rating and MarketBeat’s average analyst rating remains “Buy.”
• COKE shares opened at $192.99, up 2.5%, with a market capitalization of $12.85 billion and a 52-week range of $110.60 to $219.65.
• The company reported quarterly earnings of $2.83 per share on revenue of $2.05 billion, while institutional investors own approximately 48.24% of its stock.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Coca-Cola Consolidated presently has an average rating of "Buy".

Coca-Cola Consolidated Stock Up 2.5%

Shares of COKE stock opened at $192.99 on Friday. The company has a market cap of $12.85 billion, a P/E ratio of 25.60 and a beta of 0.55. The business has a 50 day moving average of $183.60 and a two-hundred day moving average of $183.22. Coca-Cola Consolidated has a 52 week low of $110.60 and a 52 week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The business had revenue of $2.05 billion for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Hedge Funds Weigh In On Coca-Cola Consolidated

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COKE. Bessemer Group Inc. raised its stake in Coca-Cola Consolidated by 19.1% during the first quarter. Bessemer Group Inc. now owns 331 shares of the company's stock worth $63,000 after acquiring an additional 53 shares in the last quarter. Beacon Pointe Advisors LLC boosted its stake in shares of Coca-Cola Consolidated by 2.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company's stock valued at $436,000 after purchasing an additional 72 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Coca-Cola Consolidated by 4.1% in the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock valued at $358,000 after purchasing an additional 73 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Coca-Cola Consolidated by 8.9% in the 4th quarter. UMB Bank n.a. now owns 951 shares of the company's stock worth $146,000 after purchasing an additional 78 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Coca-Cola Consolidated by 2.2% in the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock worth $503,000 after purchasing an additional 94 shares during the last quarter. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Company Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated's operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.

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